OCR Text |
Show MINIK SECURITIES SniJJE STEADY J. A. 'Hople & Co.. South Main street, furnisii the following digest of financial news, received over their private wire: Nets- York Financial News bulletin: Ti.e market was reactionary and closed generally lower. Quite a few-long few-long stocks were accumulated recently recent-ly by the professional element with the "idea that the li.t would not be pp.i-mitted to sag materially, owing to th" near approach of the liberty loan ' offering:. New York curb stock letter: The market for war-order stock? reflected ; a continued decrease In outside interests, inter-ests, and at the same time there was ' an absence of demand for stocks in which control 1s held abroad. In some of these Issues there were indications indica-tions of a foreign supply, especially British-American Tobacco, which sold 16 to lo. which is the lowest price touched In a long period. New York Shipbuilding also was In a weak position, declining to C4. Bethlehem Steel preferred, for which subscription rights expired today, sold at 101 to lOOU- Submarine was again weak, falling from UV to 16Vi-Wrlsht-Martin sold at 8 to S'i and Curtiss was neglected. Oil stocks were quiet, but steady, at generally lower prices. Oklahoma was traded in at 156 to Ho. Northwest North-west sold at 97 to 93. Mining stocks, as, a group, were steady, with Jerome Verde selling at 1, Calumet & Jerome at 2. Butto Copper & Zinc at Si, Acme at 2V. Emma at 3i and 11-16, Bid Ledge at 12. and Nipissing fex-dividend) sold at 9 to Magma Copper ranged from n2 to 50, followed by a rally to 51V. Chevrolet dropped from S3 to 80 and United Motors advanced from 23', to 24. Herald: There is an Increasing tendency ten-dency a mong the managements of corporations toward a conservative policy in the matter of dividend debasement. de-basement. This is the direct result of the present close money market. Capital stock of the California Petroleum Pe-troleum company to the amount of ?14.SS3,300 will be listed on the stock exchange in New York on October 1. The average price of the eight leading Bteel products continues to decline and is now down to $106. 51, compared with $108.84 a week ago. These quotations, quo-tations, however, mean little, as they fail to reflect the fixing of prices by the government. Considerable interest has been attracted at-tracted to American Unseed by the continued absorption of the stock. It Is suggested that a pool is raising the price on gossip of earnings, unof fi- clally estimated In some quarters as above 4 per cent for the current year, but no confirmation of this la obtainable. ob-tainable. Tribune: Earnings of Great Northern North-ern Ore properties are undoubtedly running higher than at any previous time. Recent leases- should assure continued good earnings. It has been estimated that royalty receipts from these wrill be sufficient to justify continued con-tinued regular dividends at the rate of not less than S2.50 per share. United Fruit company for the fiscal ' year to end September 29 expects to show a net of 3 per cent applicable to its stock. It is reported that the Bethlehem. Steel issues have been subjected to such severe liquidation that the demand in private borrowing circles for the "B" stock suggested a short interest of large size. New York News Bureau: Belief in some quarters that rails at present prices represent a better medium for speculation than many industrials. Weakness in silver yesterday points to the toppling of overspeculatlon. The reserve board's reference to that possibility in Ha announcement of Tuesday was hardly such as to frighten legitimate exporters. It might perhaps have been classed as a barrier to a very much greater rise in the price, for prohibition of export might easily have been considered If the prices had gone so high as to foreshadow presentation of silver certificates cer-tificates at the subtreasuries to get the silver dolla.rs for melting purposes. |